A recent Wall Street Journal article reports that now is a good time to consider planning an estate in New York and elsewhere, given the volatility of the economy. With interest rates low and Congress increasing the federal gift-tax exemption to $5 million from $1 million for people until the…
Most would agree that the recent death of 27-year-old singer Amy Winehouse was tragic. Winehouse continually battled drug and alcohol addiction as her music made millions — including a song called “Rehab.” But she got her will right MSN Money reports. It leads a New York Estate Planning Lawyer to…
The New York estate settlement process involves many different requirements and responsibilities. An Executor is the person or institution appointed by the Surrogate’s Court to administer or carry out the terms or provisions in a Last Will. The responsibilities of a person named as Executor begins immediately after the death…
Attorneys familiar with probating a Last Will throughout New York, such as in the Bronx and Brooklyn, are often confronted with issues that result in Court litigation. Many of these controversies involve family disputes and disagreements that have origins many years before the death of the decedent. Once a person…
Beginning on July 24, 2011 same-sex couples will be allowed to marry in New York. As is common with most new laws, marriage equality provides many new estate and property rights while leaving unanswered other issues. As is provided throughout New York estate statutes such as the Surrogate’s Court Procedure…
In Stern v. Marshall, the U.S. Supreme Court recently ruled against the estate of Anna Nicole Smith, who had married a Texas oil tycoon 63 years her senior a year before he died, The New York Times reports. What this case illustrates is the importance of hiring an experienced New…
CNN recently reported about a woman whose aunt gave nearly her entire estate of $300,000 to Family Radio, the non-profit California station that broadcast unsuccessful predictions about the end of the world. Contested wills in New York probate court can be difficult because they require specific requirements other than a…
Imagine the emotion of having a parent or relative die and then deal with the shock of being left a large sum of money as an inheritance. Many would not consider it a burden. However, without the proper plan to handle that kind of change in your life, you could…
The NWI Times recently published an article explaining the complexities and expenses associated with ancillary estates, which can be necessary to dispose of real property located in another state. Proper estate planning in New York can alleviate the need to go through the probate process in multiple states, which can…
New York Trusts and Estates attorneys are often asked by clients whether certain circumstances or actions by fiduciaries would require the removal of a fiduciary of the Court. A fiduciary can be an Executor, Preliminary Executor, Trustee, Administrator or Temporary Administrator. In a typical scenario a beneficiary of an estate…